The purpose of this study was to determine the effect of the level of physical activity in older women on heart rate (HR) response to its neural control at rest and during exercise by using heart rate variability (HRV) analysis. Electrocardiogram (ECG) was recorded in 3 (low, moderately, and highly) active groups of older women at rest and during submaximal exercise. Spectral HRV indexes were obtained from the ECG signal. At rest, highly active subjects have low HR without any alteration of HRV. During incremental submaximal exercise, parasympathetic modulations of HR decreased only in the highly active subjects (p <.01) without any alteration of HR, compared with the other groups. In older women, the effects of the level of physical activity on HR and HRV are dissociated. Quite a high level of physical training induces a higher sensitivity of sinus node response to the autonomic nervous system during exercise.